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119-hr-5877119th CongressWALLET

Combatting Money Laundering in Cyber Crime Act of 2025

Sponsored By: Representative Fitzgerald, Scott [R-WI-5]

In Committee

Summary

This bill would expand the Secret Service's authority to investigate digital-asset and cyber-enabled money laundering crimes. It would also lengthen certain data-retention rules and require a Government Accountability Office study on anti-money laundering enforcement in cybercrime.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

Secret Service power for digital asset crime

If enacted, the bill would expand U.S. Secret Service authority over digital-asset crimes. It would add unlicensed money transmitters to the Secret Service's list of offenses. It would let agents investigate money laundering and structured transactions, not just documents or devices. It would remove the "federally insured" limit. It would define "institution" by section 5312 of title 31. These changes would take effect upon enactment.

Longer federal financial records retention

If enacted, the bill would make FinCEN keep covered records for 10 years instead of 5. This would apply to records shared through the FinCEN Exchange. It would mainly affect FinCEN, law enforcement, and institutions whose records are included. It could help investigations but also mean personal financial records stay available longer.

Higher count for North Korea sanctions

If enacted, the bill would raise a numeric count used in a North Korea sanctions rule from 6 to 10. The change would take effect upon enactment. It would apply to entities covered by that rule, including some international financial institutions. The practical effects on households would be limited and unclear.

Sponsors & CoSponsors

Sponsor

Fitzgerald, Scott [R-WI-5]

WI • R

Cosponsors

  • Rep. Pettersen, Brittany [D-CO-7]

    CO • D

    Sponsored 10/31/2025

  • Rep. Nunn, Zachary [R-IA-3]

    IA • R

    Sponsored 10/31/2025

  • Rep. Sherman, Brad [D-CA-32]

    CA • D

    Sponsored 10/31/2025

Roll Call Votes

No roll call votes available for this bill.

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